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What is a Marketing Concept?
Marketing concept is regarded as a philosophy, in which the whole firm is required to co-ordinate to work and serve the needs of current as well as potential consumers. Only after understanding would a company be able to work properly towards supply of the particular product to its consumers. The three main factors of development are producing, distributing and communicating. The important pillars are- Market target, needs of the customers, profitability and market integration.
The marketing concept has a different concept to generate the perfect strategy to achieve a future target. These are product orientation, production concept and selling the concept. However, after knowing the various strategies and orientations the market concept has obtained the most vital orientation known as societal marketing concept. This is regarded as perfect since it focuses on everyone’s interests, needs as well as wants. Thus, this concept works positively to get profits in a competitive market.
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